Onchain BTC Research

Charts

The data pillar as a library of figures, sectioned by the question each answers.

Tokenized BTC outstanding
≈ 308.5k BTC
Last reported balance of every issuer in the library, summed.
Sits on Ethereum
55%
Share of wrapped supply attributed to a single chain.
Held by two venues
77%
Share of covered lending collateral at the top two venues.
Inside lending markets
45%
Balances held by lending protocol contracts — supplied liquidity and posted collateral.

Supply

How much tokenized BTC exists and who issues it.

Wrapped BTC supply by issuer

How is tokenized BTC supply split between issuers, and how is that changing?

A line chart of outstanding wrapped BTC supply by issuer over time. WBTC is the largest named series; cbBTC, launched in late 2024, grew to nearly match it; BTCB, issued on BNB Chain, is a steady third; LBTC, SolvBTC, tBTC and uniBTC are smaller; every wrapper below about one percent of supply is aggregated into one series. Supply is netted of bridge escrow on the chains where escrow is measured and reported gross on the rest.
Total
308.5k BTC
Change
+32.9k BTC since Sep 2025
Largest
WBTC 35.5% of total

Source: Onchain supply; bridge escrow netted wherever it is measured — Onchain BTC ResearchMethodology

View underlying data
Date against each series, in btc.
DateWBTCcbBTCBTCBLBTCSolvBTCtBTCuniBTCOther wrappers
2025-09-28116.4k BTC57.3k BTC65.3k BTC9.9k BTC7.6k BTC5.6k BTC2.7k BTC10.8k BTC
2025-10-01116.4k BTC59.0k BTC65.3k BTC9.6k BTC7.4k BTC5.5k BTC2.7k BTC10.9k BTC
2025-10-04116.6k BTC60.0k BTC65.3k BTC9.7k BTC7.4k BTC5.5k BTC2.7k BTC10.8k BTC
2025-10-07116.6k BTC62.9k BTC65.3k BTC9.7k BTC7.4k BTC5.6k BTC2.7k BTC10.6k BTC
2025-10-10116.6k BTC64.6k BTC65.3k BTC9.6k BTC7.5k BTC5.3k BTC2.5k BTC11.2k BTC
2025-10-13116.6k BTC65.1k BTC65.3k BTC9.6k BTC7.4k BTC5.2k BTC2.5k BTC11.4k BTC
2025-10-16116.7k BTC65.7k BTC65.3k BTC9.6k BTC7.6k BTC4.9k BTC2.1k BTC11.3k BTC
2025-10-19116.5k BTC65.2k BTC65.3k BTC9.5k BTC7.7k BTC5.0k BTC2.8k BTC11.1k BTC
2025-10-22116.5k BTC66.6k BTC65.3k BTC9.9k BTC7.7k BTC4.9k BTC2.8k BTC11.6k BTC
2025-10-25116.5k BTC66.5k BTC65.3k BTC9.6k BTC7.7k BTC4.9k BTC2.8k BTC11.6k BTC
2025-10-28116.5k BTC66.9k BTC65.3k BTC9.6k BTC7.6k BTC4.9k BTC2.8k BTC12.1k BTC
2025-10-31116.6k BTC67.6k BTC65.3k BTC9.8k BTC7.5k BTC4.9k BTC2.8k BTC12.1k BTC
2025-11-03116.7k BTC68.0k BTC65.3k BTC9.8k BTC7.7k BTC5.0k BTC2.8k BTC12.0k BTC
2025-11-06116.8k BTC69.3k BTC65.3k BTC9.8k BTC7.7k BTC5.0k BTC2.7k BTC14.0k BTC
2025-11-09116.8k BTC69.6k BTC65.3k BTC9.9k BTC7.6k BTC5.0k BTC2.7k BTC14.3k BTC
2025-11-12116.8k BTC69.2k BTC65.3k BTC9.9k BTC7.5k BTC5.0k BTC2.7k BTC14.0k BTC
2025-11-15116.8k BTC69.6k BTC65.3k BTC9.8k BTC7.8k BTC5.1k BTC2.7k BTC13.6k BTC
2025-11-18116.8k BTC69.8k BTC65.3k BTC9.9k BTC7.8k BTC5.2k BTC2.6k BTC14.0k BTC
2025-11-21116.7k BTC68.3k BTC65.3k BTC10.0k BTC7.6k BTC5.3k BTC1.9k BTC13.8k BTC
2025-11-24115.0k BTC69.6k BTC65.3k BTC10.0k BTC7.7k BTC5.3k BTC1.9k BTC14.3k BTC
2025-11-27115.0k BTC70.3k BTC65.3k BTC9.9k BTC8.0k BTC5.3k BTC1.9k BTC15.0k BTC
2025-11-30115.1k BTC67.5k BTC65.3k BTC9.9k BTC7.9k BTC5.3k BTC1.9k BTC15.4k BTC
2025-12-03115.2k BTC66.9k BTC65.3k BTC9.9k BTC7.9k BTC5.3k BTC1.9k BTC15.0k BTC
2025-12-06115.2k BTC68.0k BTC65.3k BTC9.8k BTC7.8k BTC5.3k BTC1.9k BTC15.0k BTC
2025-12-09115.3k BTC68.1k BTC65.3k BTC9.3k BTC7.8k BTC5.3k BTC2.4k BTC15.8k BTC
2025-12-12115.3k BTC69.0k BTC65.3k BTC9.8k BTC7.8k BTC5.2k BTC2.2k BTC15.4k BTC
2025-12-15115.3k BTC69.6k BTC65.3k BTC9.6k BTC7.9k BTC5.2k BTC2.2k BTC15.3k BTC
2025-12-18115.3k BTC70.3k BTC65.3k BTC9.7k BTC7.9k BTC5.2k BTC2.3k BTC15.0k BTC
2025-12-21115.4k BTC69.8k BTC65.3k BTC9.7k BTC7.7k BTC5.2k BTC2.4k BTC14.9k BTC
2025-12-24115.4k BTC69.1k BTC65.3k BTC9.8k BTC7.3k BTC5.1k BTC2.4k BTC14.7k BTC
2025-12-27115.5k BTC69.7k BTC65.3k BTC9.7k BTC7.6k BTC5.1k BTC2.3k BTC14.4k BTC
2025-12-30115.6k BTC69.7k BTC65.3k BTC9.7k BTC7.6k BTC5.0k BTC2.3k BTC15.2k BTC
2026-01-02115.7k BTC72.6k BTC65.3k BTC9.7k BTC7.6k BTC5.0k BTC2.3k BTC15.3k BTC
2026-01-05115.7k BTC72.6k BTC65.3k BTC9.7k BTC7.6k BTC5.0k BTC2.3k BTC15.7k BTC
2026-01-08115.8k BTC72.4k BTC65.3k BTC9.7k BTC7.3k BTC5.0k BTC2.3k BTC15.8k BTC
2026-01-11115.8k BTC72.7k BTC65.3k BTC9.7k BTC7.4k BTC5.0k BTC2.3k BTC15.6k BTC
2026-01-14115.8k BTC72.8k BTC65.3k BTC9.7k BTC7.6k BTC5.0k BTC2.3k BTC15.6k BTC
2026-01-17115.8k BTC73.4k BTC65.3k BTC9.6k BTC7.4k BTC5.0k BTC2.3k BTC16.1k BTC
2026-01-20115.3k BTC73.5k BTC65.3k BTC9.6k BTC8.6k BTC5.0k BTC2.3k BTC16.2k BTC
2026-01-23115.3k BTC74.4k BTC65.3k BTC9.5k BTC8.2k BTC5.0k BTC2.3k BTC16.9k BTC
2026-01-26115.2k BTC75.3k BTC65.3k BTC9.9k BTC8.0k BTC5.0k BTC2.3k BTC16.8k BTC
2026-01-29115.2k BTC76.4k BTC65.3k BTC10.2k BTC7.2k BTC5.1k BTC2.3k BTC16.5k BTC
2026-02-01115.3k BTC74.4k BTC65.3k BTC10.2k BTC7.2k BTC5.2k BTC2.2k BTC16.4k BTC
2026-02-04111.8k BTC77.1k BTC65.3k BTC10.3k BTC7.3k BTC5.3k BTC2.2k BTC16.4k BTC
2026-02-07111.8k BTC83.3k BTC65.3k BTC10.3k BTC7.1k BTC5.8k BTC2.2k BTC16.5k BTC
2026-02-10111.7k BTC83.2k BTC65.3k BTC9.8k BTC8.0k BTC5.7k BTC2.2k BTC15.8k BTC
2026-02-13111.6k BTC84.9k BTC65.3k BTC9.6k BTC8.2k BTC5.6k BTC2.2k BTC16.1k BTC
2026-02-16111.6k BTC85.0k BTC65.3k BTC9.5k BTC7.3k BTC5.0k BTC2.2k BTC16.1k BTC
2026-02-19111.4k BTC84.4k BTC65.3k BTC9.2k BTC6.8k BTC5.0k BTC2.2k BTC16.1k BTC
2026-02-22111.1k BTC83.5k BTC65.3k BTC9.2k BTC6.6k BTC5.0k BTC2.2k BTC16.1k BTC
2026-02-25110.5k BTC85.0k BTC65.3k BTC9.1k BTC6.3k BTC5.0k BTC2.2k BTC16.0k BTC
2026-02-28110.5k BTC84.5k BTC65.3k BTC9.3k BTC6.2k BTC5.0k BTC2.2k BTC15.9k BTC
2026-03-03110.6k BTC84.0k BTC65.3k BTC9.4k BTC6.5k BTC5.0k BTC2.6k BTC15.7k BTC
2026-03-06110.7k BTC83.7k BTC65.3k BTC9.4k BTC6.3k BTC4.9k BTC2.6k BTC15.7k BTC
2026-03-09110.1k BTC83.9k BTC65.3k BTC9.4k BTC6.2k BTC4.9k BTC2.6k BTC15.5k BTC
2026-03-12110.0k BTC83.8k BTC65.3k BTC9.4k BTC6.3k BTC4.9k BTC2.6k BTC15.5k BTC
2026-03-15110.0k BTC84.3k BTC65.3k BTC9.4k BTC6.3k BTC4.8k BTC3.1k BTC15.7k BTC
2026-03-18110.0k BTC83.1k BTC65.3k BTC9.3k BTC6.4k BTC4.8k BTC3.5k BTC15.4k BTC
2026-03-21110.0k BTC83.7k BTC65.3k BTC9.5k BTC6.4k BTC4.9k BTC3.5k BTC15.3k BTC
2026-03-24110.1k BTC84.0k BTC65.3k BTC9.5k BTC6.4k BTC4.9k BTC3.5k BTC15.4k BTC
2026-03-27110.0k BTC84.5k BTC65.3k BTC9.6k BTC6.4k BTC4.9k BTC3.5k BTC16.1k BTC
2026-03-30110.0k BTC84.5k BTC65.3k BTC9.6k BTC6.4k BTC5.0k BTC3.7k BTC16.1k BTC
2026-04-02110.3k BTC84.7k BTC65.3k BTC9.4k BTC6.4k BTC5.1k BTC3.7k BTC16.2k BTC
2026-04-05110.6k BTC84.9k BTC65.3k BTC9.5k BTC6.3k BTC5.1k BTC3.7k BTC16.5k BTC
2026-04-08110.6k BTC82.8k BTC65.3k BTC9.4k BTC6.3k BTC5.2k BTC3.7k BTC16.3k BTC
2026-04-11110.6k BTC83.0k BTC65.3k BTC9.2k BTC6.4k BTC5.2k BTC3.7k BTC16.2k BTC
2026-04-14110.4k BTC84.0k BTC65.3k BTC9.1k BTC6.4k BTC5.1k BTC3.7k BTC16.3k BTC
2026-04-17110.5k BTC83.3k BTC65.3k BTC9.4k BTC5.6k BTC5.0k BTC3.7k BTC16.3k BTC
2026-04-20110.2k BTC73.1k BTC65.3k BTC9.4k BTC5.5k BTC4.9k BTC3.7k BTC15.6k BTC
2026-04-23110.0k BTC72.7k BTC65.3k BTC9.4k BTC5.4k BTC4.6k BTC3.7k BTC15.6k BTC
2026-04-26109.8k BTC73.3k BTC65.3k BTC9.3k BTC5.5k BTC4.6k BTC3.7k BTC15.6k BTC
2026-04-29109.8k BTC73.9k BTC65.3k BTC9.3k BTC5.5k BTC4.6k BTC3.7k BTC15.6k BTC
2026-05-02109.8k BTC73.8k BTC65.3k BTC9.4k BTC5.5k BTC4.6k BTC3.7k BTC15.5k BTC
2026-05-05109.7k BTC73.5k BTC65.3k BTC9.3k BTC5.5k BTC4.6k BTC3.7k BTC15.4k BTC
2026-05-08109.9k BTC77.8k BTC65.3k BTC9.3k BTC5.6k BTC4.6k BTC3.7k BTC15.3k BTC
2026-05-11109.9k BTC78.4k BTC65.3k BTC9.3k BTC5.7k BTC4.6k BTC3.7k BTC15.2k BTC
2026-05-14109.7k BTC77.1k BTC65.3k BTC9.2k BTC5.7k BTC4.7k BTC3.7k BTC15.2k BTC
2026-05-17109.7k BTC77.6k BTC65.3k BTC9.2k BTC5.6k BTC4.5k BTC3.7k BTC15.1k BTC
2026-05-20109.2k BTC77.8k BTC65.3k BTC9.0k BTC5.6k BTC4.4k BTC3.7k BTC15.1k BTC
2026-05-23109.3k BTC78.9k BTC65.3k BTC9.0k BTC5.6k BTC4.3k BTC3.7k BTC15.2k BTC
2026-05-26109.1k BTC79.6k BTC65.3k BTC8.5k BTC5.6k BTC4.3k BTC3.7k BTC15.2k BTC
2026-05-29108.9k BTC81.6k BTC65.3k BTC8.4k BTC5.6k BTC4.3k BTC3.7k BTC14.9k BTC
2026-06-01108.9k BTC82.9k BTC65.3k BTC8.5k BTC5.6k BTC4.4k BTC3.7k BTC14.6k BTC
2026-06-04108.6k BTC82.8k BTC65.3k BTC8.5k BTC5.6k BTC4.4k BTC3.7k BTC15.4k BTC
2026-06-07108.6k BTC84.2k BTC65.3k BTC8.5k BTC5.6k BTC4.5k BTC3.7k BTC15.6k BTC
2026-06-10108.7k BTC82.7k BTC65.3k BTC8.6k BTC5.6k BTC4.6k BTC3.7k BTC14.6k BTC
2026-06-13108.7k BTC82.3k BTC65.3k BTC8.6k BTC5.6k BTC4.5k BTC3.7k BTC13.9k BTC
2026-06-16108.7k BTC82.3k BTC65.3k BTC8.6k BTC5.7k BTC4.6k BTC3.7k BTC13.8k BTC
2026-06-19108.7k BTC82.7k BTC65.3k BTC8.6k BTC5.7k BTC4.6k BTC3.7k BTC14.1k BTC
2026-06-22108.7k BTC82.7k BTC65.3k BTC8.6k BTC5.7k BTC4.5k BTC3.7k BTC14.1k BTC
2026-06-25108.8k BTC85.8k BTC65.3k BTC8.6k BTC5.7k BTC4.6k BTC3.7k BTC14.3k BTC
2026-06-28108.8k BTC87.1k BTC65.3k BTC8.5k BTC5.7k BTC4.6k BTC3.7k BTC14.2k BTC
2026-07-01108.9k BTC88.1k BTC65.3k BTC8.4k BTC5.7k BTC4.6k BTC3.7k BTC13.8k BTC
2026-07-04108.8k BTC88.8k BTC65.3k BTC9.0k BTC5.7k BTC4.6k BTC3.7k BTC13.9k BTC
2026-07-07108.9k BTC88.4k BTC65.3k BTC8.9k BTC5.7k BTC4.6k BTC3.7k BTC13.9k BTC
2026-07-10108.9k BTC91.4k BTC65.3k BTC8.9k BTC5.7k BTC4.6k BTC3.7k BTC13.9k BTC
2026-07-13108.9k BTC91.8k BTC65.3k BTC8.9k BTC5.7k BTC4.6k BTC3.7k BTC13.7k BTC
2026-07-16108.9k BTC91.7k BTC65.3k BTC8.9k BTC5.7k BTC4.6k BTC3.7k BTC12.9k BTC
2026-07-19108.9k BTC91.8k BTC65.3k BTC8.9k BTC5.7k BTC4.5k BTC3.7k BTC12.9k BTC
2026-07-22108.9k BTC91.9k BTC65.3k BTC8.9k BTC5.7k BTC4.5k BTC3.7k BTC12.9k BTC
2026-07-25109.0k BTC91.8k BTC65.3k BTC8.9k BTC5.7k BTC4.4k BTC3.7k BTC14.0k BTC
2026-07-28109.0k BTC93.4k BTC65.3k BTC8.9k BTC5.7k BTC4.4k BTC3.7k BTC14.0k BTC
2026-07-31109.0k BTC92.7k BTC65.3k BTC9.0k BTC5.7k BTC4.4k BTC3.7k BTC13.7k BTC
2026-08-03109.0k BTC93.0k BTC65.3k BTC8.9k BTC5.7k BTC4.4k BTC3.7k BTC13.9k BTC
2026-08-06109.0k BTC93.1k BTC65.3k BTC8.8k BTC5.8k BTC4.4k BTC3.7k BTC13.9k BTC
2026-08-09109.0k BTC93.3k BTC65.3k BTC8.8k BTC5.8k BTC4.3k BTC3.7k BTC13.8k BTC
2026-08-12109.1k BTC93.9k BTC65.3k BTC8.7k BTC5.8k BTC4.1k BTC3.7k BTC13.7k BTC
2026-08-15109.2k BTC93.4k BTC65.3k BTC8.7k BTC5.8k BTC4.1k BTC3.7k BTC13.8k BTC
2026-08-18109.2k BTC93.9k BTC65.3k BTC8.7k BTC5.8k BTC4.1k BTC3.7k BTC12.7k BTC
2026-08-21109.3k BTC94.4k BTC65.3k BTC8.6k BTC5.8k BTC4.0k BTC3.7k BTC12.8k BTC
2026-08-24109.4k BTC94.2k BTC65.3k BTC8.6k BTC5.7k BTC4.0k BTC3.7k BTC12.8k BTC
2026-08-27109.4k BTC94.3k BTC65.3k BTC8.6k BTC5.7k BTC4.0k BTC3.7k BTC13.1k BTC
2026-08-30109.4k BTC95.0k BTC65.3k BTC8.5k BTC5.7k BTC3.9k BTC3.7k BTC12.8k BTC
2026-09-02109.4k BTC95.4k BTC65.3k BTC8.6k BTC5.7k BTC3.9k BTC3.7k BTC13.0k BTC
2026-09-05109.5k BTC96.7k BTC65.3k BTC8.5k BTC5.7k BTC4.0k BTC3.7k BTC13.1k BTC
2026-09-08109.5k BTC95.0k BTC65.3k BTC8.5k BTC5.7k BTC4.0k BTC3.7k BTC13.1k BTC
2026-09-11109.5k BTC96.0k BTC65.3k BTC8.4k BTC5.7k BTC3.9k BTC3.7k BTC13.1k BTC
2026-09-14109.5k BTC95.7k BTC65.3k BTC8.4k BTC5.7k BTC3.9k BTC3.7k BTC13.2k BTC
2026-09-17109.5k BTC96.1k BTC65.3k BTC8.3k BTC5.7k BTC3.9k BTC3.7k BTC14.2k BTC
2026-09-20109.5k BTC95.0k BTC65.3k BTC8.3k BTC5.7k BTC3.9k BTC3.7k BTC14.4k BTC
2026-09-23109.6k BTC94.5k BTC65.3k BTC8.1k BTC5.7k BTC3.9k BTC3.7k BTC15.4k BTC
2026-09-26109.7k BTC93.8k BTC65.3k BTC7.8k BTC5.7k BTC3.9k BTC3.7k BTC18.7k BTC
Explore this chart →

  1. Supply table: every wrapper, every chain

    Tokenized BTC supply totals 308,543 BTC across 22 wrappers.

Movement

Where it is minted, redeemed and bridged.

Where wrapped BTC sits, by chain

Which chains hold tokenized BTC, and how concentrated is that distribution?

A stacked area chart of wrapped BTC supply by chain over time. Ethereum holds the largest share throughout; BNB Chain is second, almost entirely BTCB; Base rises to third; Arbitrum is a distant fourth, followed by Arc; Avalanche, Monad and Ink are named but small; Optimism, MegaETH and Etherlink are aggregated into one remainder series.
Total
308.5k BTC
Change
+32.9k BTC since Sep 2025
Largest
Ethereum 54.7% of total

Source: Onchain supply by chain — Onchain BTC ResearchMethodology

View underlying data
Date against each series, in btc.
DateEthereumBNB ChainBaseArbitrumArcAvalancheMonadInkOther chains
2025-09-28165.9k BTC74.1k BTC21.9k BTC8.5k BTC0 BTC5.1k BTC0 BTC51 BTC197 BTC
2025-10-01166.8k BTC74.0k BTC22.1k BTC8.5k BTC0 BTC5.1k BTC0 BTC51 BTC189 BTC
2025-10-04168.2k BTC74.0k BTC22.1k BTC8.4k BTC0 BTC5.1k BTC0 BTC51 BTC183 BTC
2025-10-07170.7k BTC74.2k BTC22.3k BTC8.4k BTC0 BTC5.1k BTC0 BTC51 BTC184 BTC
2025-10-10171.8k BTC74.2k BTC22.6k BTC8.3k BTC0 BTC5.1k BTC0 BTC531 BTC177 BTC
2025-10-13171.8k BTC74.3k BTC22.9k BTC8.3k BTC0 BTC5.2k BTC0 BTC531 BTC182 BTC
2025-10-16172.7k BTC73.2k BTC23.2k BTC8.4k BTC0 BTC5.2k BTC0 BTC531 BTC186 BTC
2025-10-19172.3k BTC73.3k BTC23.2k BTC8.4k BTC0 BTC5.2k BTC0 BTC531 BTC183 BTC
2025-10-22174.0k BTC73.5k BTC23.3k BTC8.3k BTC0 BTC5.2k BTC0 BTC756 BTC175 BTC
2025-10-25173.4k BTC73.5k BTC23.5k BTC8.4k BTC0 BTC5.2k BTC8.7 BTC756 BTC175 BTC
2025-10-28173.9k BTC73.9k BTC23.7k BTC8.3k BTC0 BTC5.1k BTC37 BTC756 BTC172 BTC
2025-10-31174.5k BTC73.7k BTC24.0k BTC8.3k BTC0 BTC5.2k BTC40 BTC756 BTC174 BTC
2025-11-03175.1k BTC73.7k BTC24.1k BTC8.3k BTC0 BTC5.2k BTC96 BTC756 BTC174 BTC
2025-11-06176.3k BTC74.7k BTC24.2k BTC8.3k BTC0.0 BTC5.2k BTC129 BTC1.8k BTC161 BTC
2025-11-09176.4k BTC75.0k BTC24.4k BTC8.3k BTC0.0 BTC5.1k BTC128 BTC1.8k BTC151 BTC
2025-11-12175.8k BTC75.0k BTC24.6k BTC8.4k BTC0.0 BTC4.7k BTC141 BTC1.8k BTC143 BTC
2025-11-15176.3k BTC74.9k BTC24.5k BTC8.3k BTC0.0 BTC4.7k BTC161 BTC1.8k BTC143 BTC
2025-11-18176.6k BTC75.1k BTC24.7k BTC8.3k BTC0.0 BTC4.6k BTC234 BTC1.8k BTC140 BTC
2025-11-21173.8k BTC75.2k BTC25.1k BTC8.3k BTC0.0 BTC4.6k BTC237 BTC1.8k BTC155 BTC
2025-11-24173.0k BTC75.7k BTC25.5k BTC8.3k BTC0.0 BTC4.6k BTC241 BTC1.8k BTC163 BTC
2025-11-27173.1k BTC76.8k BTC26.0k BTC8.3k BTC0.0 BTC4.6k BTC253 BTC1.8k BTC145 BTC
2025-11-30170.0k BTC77.1k BTC26.2k BTC8.4k BTC0.0 BTC4.6k BTC295 BTC1.8k BTC146 BTC
2025-12-03169.3k BTC76.6k BTC26.4k BTC8.3k BTC0.0 BTC4.6k BTC330 BTC1.8k BTC144 BTC
2025-12-06170.0k BTC76.6k BTC26.7k BTC8.3k BTC0.0 BTC4.6k BTC345 BTC1.8k BTC144 BTC
2025-12-09170.6k BTC76.8k BTC26.9k BTC8.4k BTC2.0 BTC4.5k BTC402 BTC1.8k BTC145 BTC
2025-12-12171.4k BTC76.6k BTC27.1k BTC8.3k BTC2.0 BTC4.5k BTC402 BTC1.8k BTC137 BTC
2025-12-15171.4k BTC76.7k BTC27.5k BTC8.4k BTC2.0 BTC4.5k BTC376 BTC1.8k BTC138 BTC
2025-12-18171.7k BTC76.6k BTC27.8k BTC8.3k BTC40 BTC4.5k BTC349 BTC1.8k BTC122 BTC
2025-12-21171.1k BTC76.5k BTC27.9k BTC8.3k BTC40 BTC4.4k BTC332 BTC1.8k BTC118 BTC
2025-12-24170.6k BTC75.6k BTC28.2k BTC8.3k BTC40 BTC4.4k BTC342 BTC1.8k BTC110 BTC
2025-12-27170.5k BTC75.8k BTC28.7k BTC8.2k BTC40 BTC4.3k BTC339 BTC1.8k BTC110 BTC
2025-12-30169.7k BTC75.8k BTC29.4k BTC8.2k BTC40 BTC4.3k BTC334 BTC2.6k BTC105 BTC
2026-01-02173.0k BTC76.3k BTC29.0k BTC8.3k BTC40 BTC4.3k BTC350 BTC2.2k BTC103 BTC
2026-01-05172.9k BTC76.8k BTC29.1k BTC8.3k BTC40 BTC4.3k BTC301 BTC2.2k BTC104 BTC
2026-01-08172.4k BTC76.6k BTC29.3k BTC8.3k BTC40 BTC4.3k BTC345 BTC2.2k BTC103 BTC
2026-01-11172.4k BTC76.5k BTC29.6k BTC8.3k BTC40 BTC4.3k BTC366 BTC2.2k BTC103 BTC
2026-01-14172.6k BTC76.5k BTC29.7k BTC8.3k BTC40 BTC4.3k BTC421 BTC2.2k BTC102 BTC
2026-01-17172.9k BTC76.3k BTC30.0k BTC8.3k BTC40 BTC4.3k BTC431 BTC2.7k BTC98 BTC
2026-01-20173.5k BTC76.5k BTC30.1k BTC8.3k BTC40 BTC4.3k BTC388 BTC2.7k BTC98 BTC
2026-01-23172.6k BTC77.7k BTC30.5k BTC8.2k BTC40 BTC4.2k BTC389 BTC3.0k BTC98 BTC
2026-01-26173.6k BTC77.6k BTC30.9k BTC8.1k BTC40 BTC4.2k BTC408 BTC3.0k BTC97 BTC
2026-01-29174.1k BTC76.7k BTC31.3k BTC8.2k BTC40 BTC4.4k BTC389 BTC3.0k BTC98 BTC
2026-02-01172.5k BTC76.9k BTC31.1k BTC8.1k BTC40 BTC4.2k BTC371 BTC3.0k BTC97 BTC
2026-02-04171.2k BTC77.1k BTC31.8k BTC8.1k BTC40 BTC4.2k BTC420 BTC3.0k BTC97 BTC
2026-02-07178.4k BTC77.0k BTC31.2k BTC8.2k BTC40 BTC4.1k BTC404 BTC3.0k BTC113 BTC
2026-02-10177.7k BTC77.0k BTC31.2k BTC8.1k BTC40 BTC4.1k BTC681 BTC3.0k BTC110 BTC
2026-02-13178.3k BTC77.2k BTC31.8k BTC8.1k BTC40 BTC4.0k BTC674 BTC3.4k BTC111 BTC
2026-02-16177.6k BTC76.4k BTC31.9k BTC8.1k BTC40 BTC4.0k BTC698 BTC3.4k BTC113 BTC
2026-02-19176.4k BTC75.8k BTC32.2k BTC8.1k BTC40 BTC4.0k BTC699 BTC3.4k BTC112 BTC
2026-02-22175.0k BTC75.6k BTC32.2k BTC8.1k BTC40 BTC4.0k BTC673 BTC3.4k BTC112 BTC
2026-02-25175.1k BTC75.3k BTC32.8k BTC8.2k BTC40 BTC4.0k BTC755 BTC3.4k BTC113 BTC
2026-02-28174.8k BTC75.3k BTC32.9k BTC8.2k BTC40 BTC3.9k BTC796 BTC3.5k BTC113 BTC
2026-03-03174.7k BTC75.3k BTC32.9k BTC8.2k BTC40 BTC3.9k BTC932 BTC3.5k BTC114 BTC
2026-03-06174.6k BTC74.9k BTC33.0k BTC8.2k BTC40 BTC3.9k BTC2.0k BTC3.5k BTC116 BTC
2026-03-09174.1k BTC75.0k BTC33.1k BTC8.1k BTC40 BTC3.8k BTC2.1k BTC3.5k BTC117 BTC
2026-03-12173.1k BTC75.1k BTC33.4k BTC8.1k BTC40 BTC3.8k BTC2.0k BTC3.5k BTC117 BTC
2026-03-15173.8k BTC75.2k BTC33.6k BTC8.1k BTC0 BTC3.9k BTC2.0k BTC3.5k BTC118 BTC
2026-03-18172.5k BTC75.2k BTC33.9k BTC8.2k BTC0 BTC3.8k BTC2.0k BTC3.5k BTC117 BTC
2026-03-21173.1k BTC75.2k BTC34.0k BTC8.1k BTC0 BTC3.8k BTC1.8k BTC3.5k BTC113 BTC
2026-03-24173.4k BTC75.1k BTC34.2k BTC8.1k BTC0 BTC3.9k BTC1.8k BTC3.5k BTC114 BTC
2026-03-27173.5k BTC75.9k BTC34.7k BTC8.1k BTC0 BTC3.7k BTC1.8k BTC3.5k BTC114 BTC
2026-03-30173.5k BTC75.9k BTC35.0k BTC8.0k BTC0 BTC3.7k BTC1.9k BTC3.5k BTC114 BTC
2026-04-02173.8k BTC75.7k BTC35.4k BTC8.0k BTC0 BTC3.7k BTC2.1k BTC3.5k BTC114 BTC
2026-04-05174.2k BTC75.1k BTC35.4k BTC8.0k BTC0 BTC3.6k BTC2.1k BTC3.5k BTC114 BTC
2026-04-08171.8k BTC75.0k BTC35.5k BTC8.0k BTC0 BTC3.5k BTC2.2k BTC3.5k BTC115 BTC
2026-04-11171.4k BTC75.1k BTC35.9k BTC8.0k BTC0 BTC3.4k BTC2.2k BTC3.5k BTC115 BTC
2026-04-14171.3k BTC75.1k BTC36.8k BTC7.9k BTC0 BTC3.4k BTC1.8k BTC3.6k BTC117 BTC
2026-04-17170.7k BTC74.3k BTC37.1k BTC7.9k BTC0 BTC3.4k BTC1.8k BTC3.6k BTC118 BTC
2026-04-20160.4k BTC74.1k BTC37.1k BTC7.7k BTC0 BTC3.2k BTC1.8k BTC3.1k BTC117 BTC
2026-04-23159.6k BTC74.0k BTC37.2k BTC7.7k BTC0 BTC3.2k BTC1.8k BTC3.3k BTC142 BTC
2026-04-26159.6k BTC74.1k BTC37.3k BTC7.7k BTC0 BTC3.1k BTC1.7k BTC3.3k BTC163 BTC
2026-04-29160.0k BTC74.1k BTC37.5k BTC7.6k BTC0 BTC3.1k BTC1.7k BTC3.3k BTC163 BTC
2026-05-02159.7k BTC74.1k BTC37.6k BTC7.6k BTC0 BTC3.0k BTC1.7k BTC3.3k BTC167 BTC
2026-05-05159.5k BTC74.1k BTC37.4k BTC7.5k BTC0 BTC3.0k BTC1.7k BTC3.3k BTC172 BTC
2026-05-08163.7k BTC74.1k BTC37.5k BTC7.4k BTC0 BTC3.0k BTC1.7k BTC3.3k BTC172 BTC
2026-05-11163.9k BTC74.2k BTC37.9k BTC7.4k BTC0 BTC3.0k BTC1.7k BTC3.2k BTC176 BTC
2026-05-14162.5k BTC74.2k BTC38.3k BTC7.3k BTC0 BTC3.0k BTC1.6k BTC3.2k BTC177 BTC
2026-05-17162.8k BTC74.1k BTC38.4k BTC7.3k BTC0 BTC3.0k BTC1.6k BTC3.2k BTC177 BTC
2026-05-20162.1k BTC74.2k BTC38.5k BTC7.2k BTC0 BTC3.0k BTC1.6k BTC3.1k BTC239 BTC
2026-05-23162.8k BTC74.1k BTC38.8k BTC7.2k BTC0 BTC3.0k BTC1.6k BTC3.2k BTC239 BTC
2026-05-26162.9k BTC74.1k BTC39.0k BTC7.2k BTC0 BTC3.0k BTC1.8k BTC3.2k BTC243 BTC
2026-05-29164.1k BTC74.1k BTC39.5k BTC7.2k BTC0 BTC3.0k BTC1.8k BTC2.8k BTC298 BTC
2026-06-01165.0k BTC74.1k BTC39.9k BTC7.2k BTC0 BTC3.0k BTC1.8k BTC2.5k BTC296 BTC
2026-06-04164.5k BTC74.1k BTC40.0k BTC7.3k BTC0 BTC3.0k BTC1.8k BTC3.4k BTC296 BTC
2026-06-07165.4k BTC74.0k BTC40.7k BTC7.3k BTC0 BTC3.0k BTC1.8k BTC3.5k BTC288 BTC
2026-06-10163.7k BTC74.1k BTC41.2k BTC7.2k BTC0 BTC2.9k BTC1.8k BTC2.7k BTC286 BTC
2026-06-13163.2k BTC74.1k BTC41.4k BTC7.2k BTC0 BTC2.9k BTC1.7k BTC1.9k BTC286 BTC
2026-06-16162.8k BTC74.1k BTC41.8k BTC7.2k BTC0 BTC2.9k BTC1.8k BTC1.9k BTC286 BTC
2026-06-19163.0k BTC74.1k BTC42.0k BTC7.3k BTC0 BTC3.3k BTC1.8k BTC1.8k BTC292 BTC
2026-06-22162.8k BTC74.1k BTC42.1k BTC7.3k BTC0 BTC3.3k BTC1.8k BTC1.8k BTC292 BTC
2026-06-25165.6k BTC74.0k BTC42.4k BTC7.3k BTC0 BTC3.3k BTC1.9k BTC1.9k BTC293 BTC
2026-06-28166.6k BTC74.0k BTC42.7k BTC7.3k BTC0 BTC3.3k BTC2.2k BTC1.9k BTC293 BTC
2026-07-01167.1k BTC74.0k BTC43.0k BTC7.4k BTC0 BTC3.3k BTC2.5k BTC1.4k BTC293 BTC
2026-07-04168.1k BTC73.9k BTC43.3k BTC7.5k BTC0 BTC3.2k BTC2.5k BTC1.5k BTC293 BTC
2026-07-07167.7k BTC74.2k BTC43.3k BTC7.5k BTC0 BTC3.2k BTC2.5k BTC1.4k BTC292 BTC
2026-07-10170.6k BTC74.3k BTC43.5k BTC7.5k BTC0 BTC3.1k BTC2.5k BTC1.5k BTC176 BTC
2026-07-13170.7k BTC74.3k BTC43.7k BTC7.5k BTC0 BTC3.1k BTC1.8k BTC1.3k BTC175 BTC
2026-07-16170.2k BTC74.3k BTC44.1k BTC7.5k BTC0 BTC2.4k BTC1.8k BTC1.3k BTC139 BTC
2026-07-19170.2k BTC74.3k BTC44.2k BTC7.5k BTC0 BTC2.4k BTC1.8k BTC1.3k BTC138 BTC
2026-07-22170.0k BTC74.2k BTC44.5k BTC7.5k BTC0 BTC2.4k BTC1.8k BTC1.3k BTC137 BTC
2026-07-25169.7k BTC75.1k BTC44.6k BTC7.5k BTC0 BTC2.4k BTC1.9k BTC1.4k BTC137 BTC
2026-07-28170.5k BTC74.8k BTC45.3k BTC7.5k BTC0 BTC2.4k BTC1.8k BTC1.5k BTC124 BTC
2026-07-31169.9k BTC74.6k BTC45.2k BTC7.5k BTC0 BTC2.4k BTC1.8k BTC1.2k BTC119 BTC
2026-08-03170.2k BTC74.6k BTC45.3k BTC7.5k BTC0 BTC2.4k BTC1.9k BTC1.4k BTC117 BTC
2026-08-06170.2k BTC74.5k BTC45.5k BTC7.4k BTC0 BTC2.3k BTC1.8k BTC1.4k BTC117 BTC
2026-08-09170.4k BTC74.5k BTC45.4k BTC7.4k BTC0 BTC2.3k BTC1.8k BTC1.4k BTC117 BTC
2026-08-12170.7k BTC75.2k BTC45.5k BTC7.4k BTC0 BTC2.3k BTC1.8k BTC1.3k BTC116 BTC
2026-08-15170.5k BTC75.2k BTC45.1k BTC7.4k BTC0 BTC2.3k BTC1.8k BTC1.3k BTC116 BTC
2026-08-18171.1k BTC74.2k BTC45.1k BTC7.4k BTC18 BTC2.3k BTC1.8k BTC1.3k BTC115 BTC
2026-08-21171.3k BTC74.2k BTC45.2k BTC7.4k BTC86 BTC2.3k BTC1.7k BTC1.4k BTC114 BTC
2026-08-24171.2k BTC74.2k BTC45.2k BTC7.4k BTC86 BTC2.3k BTC1.8k BTC1.4k BTC112 BTC
2026-08-27171.5k BTC74.0k BTC45.2k BTC7.4k BTC80 BTC2.3k BTC1.8k BTC1.7k BTC112 BTC
2026-08-30171.9k BTC74.0k BTC45.4k BTC7.4k BTC122 BTC2.3k BTC—1.5k BTC112 BTC
2026-09-02172.1k BTC74.0k BTC45.6k BTC7.4k BTC174 BTC2.3k BTC—1.7k BTC112 BTC
2026-09-05173.3k BTC74.0k BTC45.8k BTC7.4k BTC222 BTC2.3k BTC—1.8k BTC112 BTC
2026-09-08171.2k BTC74.0k BTC46.0k BTC7.4k BTC289 BTC2.3k BTC—1.8k BTC112 BTC
2026-09-11172.0k BTC74.0k BTC46.3k BTC7.5k BTC379 BTC2.3k BTC—1.6k BTC113 BTC
2026-09-14171.8k BTC74.0k BTC46.2k BTC7.5k BTC397 BTC2.3k BTC—1.6k BTC112 BTC
2026-09-17172.0k BTC74.0k BTC46.5k BTC7.5k BTC551 BTC2.4k BTC—2.2k BTC113 BTC
2026-09-20170.7k BTC74.0k BTC46.7k BTC7.5k BTC840 BTC2.4k BTC—2.3k BTC113 BTC
2026-09-23169.8k BTC74.0k BTC46.8k BTC7.5k BTC1.4k BTC2.3k BTC—2.4k BTC114 BTC
2026-09-26168.6k BTC74.0k BTC47.1k BTC7.5k BTC3.6k BTC2.3k BTC—2.2k BTC113 BTC
Explore this chart →

  1. Net minting by issuer, monthly

    In Aug 2026, cbBTC net minted 2,649 BTC while Other wrappers net redeemed 610.1 BTC; net across issuers was +981.3 BTC.

Lending

How much is posted as collateral, where, and in what form.

Wrapped BTC posted as lending collateral

Which lending venues actually hold wrapped BTC as collateral?

A ranked bar chart of wrapped BTC posted as collateral, by lending venue and chain. Aave v3 on Ethereum is the largest, followed by Morpho Blue on Base and on Ethereum, then Spark on Ethereum and Aave v3 on Base. Collateral is de-duplicated per position and market, and covers only the venues indexed today.
Total
121.9k BTC
Largest
Aave v3 · Ethereum 45.0% of total

Source: Aave v3, Morpho Blue, Spark — Onchain BTC ResearchMethodology

View underlying data
Lending venue against each series, in btc.
Lending venueWrapped BTC posted as collateral
Aave v3 · Ethereum54.9k BTC
Morpho Blue · Base38.5k BTC
Morpho Blue · Ethereum15.2k BTC
Spark · Ethereum10.5k BTC
Aave v3 · Base2.8k BTC
Explore this chart →

  1. Wrapped BTC collateral by lending protocol

    Wrapped BTC posted as lending collateral totals 121,949 BTC across 3 lending protocols.

  2. Which wrapped BTC is posted as collateral

    Wrapped BTC posted as lending collateral totals 121,949 BTC across 5 wrappers.

Holders

Who holds it and whether it is used.

What holds wrapped BTC

Is tokenized BTC being used, or is it sitting still?

A single stacked bar showing share of wrapped BTC balances by holder type. Lending markets hold the largest share at close to half, followed by idle wallet balances at about a third; unlabelled contracts, bridge escrow, custody and vaults, and DEX liquidity hold single-digit shares each.
Largest
Lending markets 45%
Top three
90%

Shares are of balances counted gross: a bridged token is held in escrow on the chain it left and held again on the chain where it was minted, so it is counted twice — once as bridge escrow. Supply charts count it once, so the base here is larger than total supply.

Source: Onchain balances and contract labels — Onchain BTC ResearchMethodology

View underlying data
Holder type against each series, in percent.
Holder typeLending marketsIdle wallet balancesCustody, vaults & exchangesBridge escrowDEX liquidityOther contracts
Share of supply45%35%2.9%4.7%2.5%10%
Explore this chart →

  1. Where wrapped BTC sits, over time

    Wrapped BTC balances by holder type totals 324,345 BTC across 6 holder types.

Working on tokenized BTC?

Commissioned research, measurement design and review on wrapped-BTC market structure.

Get in touch